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Fly News Breaks for October 13, 2016
SCHW
Oct 13, 2016 | 07:23 EDT
BofA/Merrill analyst Michael Carrier upgraded Charles Schwab to Buy and raised its price target to $38 from $32. The analyst sees upside from higher interest rates given Schwab's exposure to money markets and portfolio duration and from other strategic factors including M&A activity and/or competitive/pricing. Further, Carrier said Schwab has strong organic growth, less pressure from competition, is well positioned for DOL, and can balance revenue and expense growth.
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